Press briefing of Cabinet Decision taken on 2017-06-20

Lease of a land at Sir James Peiris Mawatha, Colombo 02 to M/s Superlative Properties Limited for a Mixed Development Project

- Competitive Bids have been called to select a suitable investor to lease out a land in extent of 03 Rood, 01 Perches, situated in Sir James Periris Mawatha, Colombo 02, owned by the Urban Development Authority and in response bids have been submitted by 05 firms. The Procurement Committee appointed by the Cabinet has recommended to lease out the relevant potion of land for a value of Rs.1,815 million on a 99 year lease to M/s Superlative Properties Limited, the highest bidder out of the bidders who have responded. Accordingly, the proposal made by Hon. Patali Champika Ranawaka, the Minister of Megapolis and Western Development, to dispose of the potion of land on lease basis, was approved by the Cabinet.